World’s Leading Insurance Markets
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An analysis of the world’s leading insurance markets, by financial value, as measured by monthly or annual premium payments.
We have looked at the total value of premiums in each major insurance market in the world.
We have further separated the total amount into life insurance premiums and non-life premiums, covering all other types of insurance including auto and home insurance.
We also then describe the percentage that the country listed has of the total world insurance market.
An analysis of the world’s leading insurance markets, by financial value, as measured by monthly or annual premium payments.
We have looked at the total value of premiums in each major insurance market in the world.
We have further separated the total amount into life insurance premiums and non-life premiums, covering all other types of insurance including auto and home insurance.
We also then describe the percentage that the country listed has of the total world insurance market.
This data is taken from 2005. While emerging markets have increased significantly in size since that time, their insurance markets are laggard industries and are currently developing slower than their overall growth rates, so the top insurance markets remain the same although the numbers have changed.
| Rank | Country | Non-Life Premiums (1) | Life Premiums | Amount | Percentage of World Total Premiums |
| 1 | United States (2) | $603,018 | $494,818 | $1,097,836 | 33.84% |
| 2 | Japan (3) | 105,587 | 386,839 | 492,425 | 15.18 |
| 3 | United Kingdom | 105,241 | 189,591 | 294,831 | 9.09 |
| 4 | France | 65,811 | 128,813 | 194,624 | 6 |
| 5 | Germany | 106,261 | 84,535 | 190,797 | 5.88 |
| 6 | Italy | 46,728 | 82,083 | 128,811 | 3.97 |
| 7 | Canada(4) | 40,232 | 29,509 | 69,741 | 2.15 |
| 8 | South Korea (3) | 19,944 | 48,680 | 68,623 | 2.12 |
| 9 | Netherlands (5) | 27,064 | 31,512 | 58,577 | 1.81 |
| 10 | Spain | 32,311 | 23,592 | 55,903 | 1.72 |
- Includes accident and health insurance
- Nonlife premiums include state funds; life premiums include an estimate of group pension business
- April 1, 2003 – March 31, 2004
- Life business expressed in net premiums.
- Nonlife premiums are gross premiums including a small amount of reinsurance premiums.
Source: Swiss Re, sigma, No. 2/2005.
While every state and country has a list of highly qualified insurance companies, some insurers are known around the world as being the best of the best. Choosing to purchase a policy through any of the world’s leading insurance companies, means you would have access to benefits you might not otherwise enjoy through another company. For instance, many of these companies have national and international coverage so if you were in Europe seeing the sites of Germany but headed to France, you would be covered by the same policy.
Another interesting thing about most of the world’s leading insurance companies is that they provide policies for all types of coverage. In other words, you could purchase health insurance, automobile insurance, life insurance, travel insurance, and homeowner’s/renter’s insurance all from one company. Obviously, this makes the process of getting quotes and buying policies far more convenient.
We wanted to provide you with five of the world’s leading insurance companies, along with a brief summary of history.
• Allianz – Formerly known as Allianz AG, this is without doubt one of the largest insurers around the globe, providing a long list of policies and services such as health, property, life, casualty, and more. To accommodate all the customers that uses this insurance company. Today more than 100 subsidiaries and affiliates exist. With support and backing from the Allianz Global Investor’s company, Allianz is now ranked as one of the world’s leading insurance companies and with good reason.
• American International Group, Inc. – Another one of the world’s leading insurance companies, the American International Group, Inc. offers comprehensive policies and affordable premiums for casualty, life, property, and even specialty coverage to assist individual, commercial, and institutional customers. More often called AIG, this company has a solid reputation for outstanding life and non-life insurance, as well as reinsurance, retirement plans, financial services, and asset management assistance in more than 130 countries.
• AXA – Made up of many mutual insurance companies, AXA also deserves to be on our list of the world’s leading insurance companies as being large, successful, and an insurance and financial powerhouse. Currently, AXA has subsidiaries in the United Kingdom, Belgium, Australia, and its headquarters is located in the United States. Whether looking for personal or commercial coverage, this company offers outstanding products and services.
• Safeco – The fourth on our list of the world’s leading insurance companies is Safeco Corporation. Individuals can purchase policies for homeowner, renter, automobile, and fire coverage under the personal property and casualty insurance plan. However, on the commercial end, workman’s compensation, general liability, and multi-peril policies are also available.
• The Travelers Companies, Inc. – The last of the world’s leading insurance companies that we wanted to mention is this one. The majority of policies sold are for commercial property and casualty coverage although personal insurance policies are also sold. For commercial, the types of policies sold most include financial liability, workman’s compensation, property, fleet, and marine. Then on the personal side of business, all of the most sought after policies are available.
